What will make your product(s) unique in the buying landscape? What’s the biggest benefit or unique solution you offer customers or target prospects? [Example: Of all the dog leash and collar companies selling products online, ours is the only one made from recycled bike inner tubes.]

Second, let’s determine the viability of your product choices:

Is your product part of a growing trend in the marketplace? [Example: Organic and natural pet food sales are expected to grow 3 times as fast as pet sales overall.]

What’s the competition like? Who else is doing what you want to do? [Example: If you are looking to sell organic soaps, you’ll want to ask yourself: Is anyone else making pure, organic soaps? Does their brand use ethically sourced palm oil? Are all their ingredients organic? What can you do that they are not?]

Are there any barriers you need to overcome? What might halt production for your product? [Example: If you’re producing organic cotton socks and there is a drought and you can’t source enough cotton.]

It’s an exciting time when building your own business. Have patience and truly answer the above questions to ensure you start with a solid foundation. In the next blog post, we’ll dive into how to choose your business name and a matching domain name.

In the meantime, please share more details about the social enterprise you want to create and the type of products you want to sell. Feel free to ask any questions you may have. I truly look forward to helping you launch and grow your business.

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